Bitcoin’s price soared to its highest point in nine months and tapped $26,400 moments ago.

This happens on the back of somewhat positive CPI print, as well as hopes for a slowdown in terms of interest rate increases.

As CryptoPotato reported earlier, the Consumer Price Index for all Urban Consumers increased by 0.4% and to 6% year-over-year.
This sent a positive signal across the cryptocurrency market and saw Bitcoin surge above $25K on the announcement.
It wasn’t an hour after that, though, when the price saw another impulsive leg up and reached almost $26.4K on Binance.
Source: TradingView

 

Data from Coinglass reveals that the move caused a whopping $120 million liquidated in the past hour alone.
The predominant part of the liquidations came from short positions.

The post Bitcoin Explodes Above $26K, Leaves Over $120 Million Liquidated in an Hour appeared first on CryptoPotato.

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Filed under: Bitcoin - @ March 14, 2023 1:24 pm